|By PR Newswire||
|February 11, 2014 01:39 PM EST||
NEW YORK, Feb. 11, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Cadence Pharmaceuticals, Inc. ("Cadence" or the "Company") (NasdaqGS: CADX) (ISIN: US12738T1007) (CUSIP: 12738T100) concerning the proposed acquisition of Cadence by Mallinckrodt plc.
The investigation concerns whether the Cadence directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, shares of Cadence will be converted into the right to receive $14.00 in cash for each share of Cadence common stock. However, at least one analyst set a target price of $15.00 per share for Cadence common stock.
Cadence shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at [email protected] or 212-661-1100 or 888-476-6529, ext. 237.
Pomerantz LLP, with offices in New York, Chicago, Florida, and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz LLP pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz LLP continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.
212-661-1100 ext. 237
SOURCE Pomerantz LLP